How to have a Successful Bakery Business in a Challenging Economy

We see it every day, in the news, at the store, reminders of the recession that our economy is now experiencing. Unemployment increasing, consumer confidence is decreasing and the global economy is struggling. Admittedly, businesses everywhere are affected by this recession. For managers & owners, their first move is to cut some expenses in any way they can. Bakeshops, pizzerias, pastry shops and anything alike are all looking for ways to save money. Unfortunately, the recession is fueled by fear that can lead to poor decision making. It may be both necessary and wise to trim the costs of your business, however, doing so with only short term benefits in mind can be damaging. The question you should be asking yourself right now is “Do I plan to stay in bakery business many years from today?” If the answer is yes, then here are some things you can do in these troubled times to help ensure a successful, persevering and more prosperous bakery business.

Give Your Business a Makeover.

If you manage a retail operating business, take the advantage of the slow traffic days to give your business a makeover. A new paint, some new lighting or trendy decor can all be done on a budget, which can go a long way in making a positive impression. Think outside-the-box. If you are struggling with your old refrigerated displays, updating it may be just what you need. It will not only be attractive to your customers, but with more efficient models may actually save you on energy and maintenance costs in a long run. A fresh look can make your customers feel that you care about your business and their experience when they come to visit. Make their experience an exciting one and surely they will keep coming back for more.

Update Your Marketing Programs.

Unfortunately, marketing expenses are usually the first thing that is affected in a recession. However, the downside of the economy gives you a great opportunity to analyze and change a lot of your existing marketing materials. Pull out some of your old ads and see if you can recycle some of them. You can also take advantage of all of the opportunities that the internet provides. A well-designed and informative website can make your business noticed by the netizens can lead to a higher rank in search engines. Social media websites such as Facebook, Twitter and LinkedIn are free, and they are a great way to build your audience and to communicate with your customers. You can spend all day in your kitchen, creating the next best recipe, but if no one knows about it, it does not matter how great it is.

That is why you have to set aside time and money to market your business. Here are free marketing tools to make use of your bakery business:

• Write a blog. To promote your business, devote some of your time on blogging. You can put your recipes, tips and updates on your blog to make your customers know what’s new in your business.
• Use social media. Social media websites are great way to promote your bakery business. If you are short on time, select one social media site and post some status and updates consistently. You can post pictures or videos of your recipes and the links on your blog in your Social Media page.
• Join groups. As with any business, networking can bring in more customers. Join local business groups and build relationships that are beneficial to your business.

Replace Old Bakery Equipment.

For many bakery owners, the decision to replace their old equipment can seem like a very difficult task. They know how important good snack and bakery equipment is to their business, but they are just not sure when is the right time to invest in a new kitchen equipment. As a result, some bakery owners waste some of their time and money working with equipment that has used more than its lifespan. Efficiency is the key to profitability and cost effectiveness, and quality equipment will save you time and money in repairs, maintenance and labor fees. Bakers all around the country finds a fuel efficient deck oven can save more on fuel expenses than the lease payment itself. The money you can save can be used to offset the increased cost of ingredients & other expenses. Actually, customer satisfaction is essential to your business’ survival. The purchase of new baking equipment will give you the quality and consistency you need to keep your customers coming back for to you.

Get Out There.

Get out and greet your customers and let them know you are there, ready to serve them. If you operate a wholesale operation, take the advantage of some of your down time to get out of you’re the kitchen and go visit your customers or even welcome some new ones. Sometimes all you need to do is shake hands and your customer will recognize the effort you made. If you own a retail business, always be present in your store. Make sure you are in your store front, communicating with your customers. Talk to your customers and find out what they like or don’t like about your bakery. Consider participating in your local community events. Donating some food is a great way to network with new and old customers. Offering a free sample allows potential customers to taste your product without money, with a unique recipe, they will certainly make them remember you.

These challenging economic times are very risky for sure, but for those who are willing to work for it, opportunities can still be found all around us. Give your business a makeover and leave a lasting impression the customers. Take the advantage of competitive pricing to update old marketing materials and ads. Replace your old bakery equipment and save more on maintenance, fuel and labor expenses. Most importantly, get involved with your customers. Always remember that your customers have a choice. Make sure to give them some reason to choose you.

Fun Food Thailand can supply your restaurant with the Commercial Cooking Equipment and supplies from industry-leading manufacturers. Find exactly what you need in Snack Equipment, Bakery Equipment, Commercial Bar Equipment. Need help finding an item? Call our expert team at +66 (0)98 398 9770 or email us at sales@funfoodthailand.com.

Do the challenging economy affects your Bakery Business? What did you do to overcome this situation? Share your experience in the comments below.